Permanent & Refinance Loans
Piccard Financial arranges permanent debt and refinance capital for commercial real estate sponsors, developers, and family offices — bank, agency, credit union, life insurance company, CMBS, and debt fund executions across stabilized multifamily, retail, office, industrial, hospitality, and mixed-use assets.
Capital Strategy
We evaluate cash flow, sponsor profile, asset positioning, prepayment flexibility, rate exposure, and exit strategy before approaching the market.
Permanent Coverage
Long-term capital from acquisition through refinance.
Asset Profile
Stabilized & Near-Stabilized
Capital Sources
Banks & Life Co
Pricing
Fixed or Floating
Markets
National
Overview
Permanent loans are not interchangeable. A 10-year fixed-rate non-recourse loan from a life insurance company has very different economics, prepayment posture, and execution risk than a 5-year bank loan with personal recourse, even when leverage and pricing look comparable at the term sheet stage.
Piccard Financial works with sponsors to identify the right capital audience for each asset, structure the financing around hold strategy and prepayment flexibility, and run a competitive process that produces meaningful pricing and structural differentiation between term sheets.
Coverage spans stabilized multifamily, retail, office, industrial, hospitality, mixed-use, and select special-use assets, with bank, agency, credit union, life insurance company, CMBS, and debt fund executions tailored to the asset and sponsor profile.
Common Use Cases
Each permanent financing assignment is positioned around cash flow, sponsor profile, prepayment posture, and the hold strategy underwriting the request.
Acquisition
Long-term debt for the acquisition of stabilized or near-stabilized commercial assets, positioned around going-in cap rate, sponsor profile, and the lender's view of the market.
Maturity Defense
Refinance executions in advance of loan maturity, including extension negotiations with the existing lender, lender substitution, and refinancing into improved or modified terms.
Equity Release
Capital strategies for extracting accumulated equity from stabilized assets, with leverage, structure, and pricing set against current valuation rather than original cost basis.
Pricing
Refinancing into improved pricing, longer fixed-rate periods, modified prepayment flexibility, or non-recourse structure, often executed during favorable rate windows.
Takeout
Permanent financing that takes out a construction loan after delivery and stabilization, with execution timing aligned to the construction lender's maturity and the asset's lease-up profile.
Portfolio
Cross-collateralized portfolio financing for multi-asset sponsors, structured around release provisions, substitution rights, blanket pricing, and lender concentration tolerance.
Execution Process
Our process is built to position the asset clearly to the right lender audience and create competitive tension across term sheets.
We review property cash flow, T-12 operating statements, rent roll, sponsor profile, liquidity, net worth, and the hold strategy underwriting the financing request.
We assess DSCR, debt yield, loan-to-value, prepayment tolerance, recourse appetite, and the leverage and structure the market is likely to support.
We prepare a lender-facing offering memorandum that frames the asset around cash flow durability, sponsor strength, market positioning, and exit posture.
We approach the correct audience, which may include banks, agencies, credit unions, life insurance companies, CMBS originators, and debt funds depending on asset, leverage, and program fit.
We compare and negotiate leverage, pricing, fees, reserves, recourse, prepayment flexibility, lockout, yield maintenance, and closing conditions across competing term sheets.
We remain involved through diligence, appraisal, third-party reports, legal documentation, lender approval, and funding through wire date.
Relevant Transaction
$22.00MM
Refinance executed for a stabilized retail asset on Lincoln Road in Miami Beach, with capital structured around the asset's cash flow profile, sponsor objectives, and long-term hold strategy.
Submit a Permanent Loan Request
We will review the opportunity and respond with preliminary capital direction, likely lender audience, leverage, pricing, structure, and next steps.
Submit a Deal